September 6, 2021 – The International Token Standardization Association (ITSA) has released the first version of its Tokenbase API. Active ITSA Members receive complimentary access to the API as part of their memberships. The API allows for the secure and instant assignment of new ITINs to freshly minted tokens, and enables full ITIN integration for existing Tokens. This is an important feature for token issuers (especially in the area of STOs) as well as cryptocurrency exchanges and secondary markets. In addition, the ITIN application form has been updated and now also supports instant ITIN assignment. You can access the form here.
You can now easily apply for an ITIN through our Tokenbase frontend, as seen in figure 1. There are four steps to go through:
Once you have made it through these steps, your ITIN will be assigned instantly. You will then be redirected to the new Tokenbase listing of your token. Should any problems arise, we will be sure to get in touch with you as soon as we can.
Figure 1: The second step of ITIN assignment (https://api.itsa.global/apply-for-itin)
We have also finished and released our Tokenbase API v1.0 to our active members. We provide a unified RESTful API, giving JSON-encoded responses and following standard HTTP response codes and authentication.
The API can fulfil a number of requests, including providing full data on any listed token, returning only ITIN or ITC information, as well as searching the entire Tokenbase for tokens according to preselected filters. For example, through the API you can search and filter tokens according to ITC classifications. Additionally, the /create-itin call allows for instant ITIN assignments. While this function is made for STO / ICO issuance platforms to integrate ITINs in their issuance process, the search functions are more aimed towards data providers and exchanges. With the ITIN and ITC, they can create more order in their ecosystems and add an extra layer of transparency.
You can access the API Documentation here. If you would like to use the API, please get in touch with email@example.com to discuss membership options. Figure 2 shows an example of a successful /create-itin call.
Figure 2: /create-itin success
From this, we can decipher that the ITIN of the new token is “BM4MGCP45”, as well as see that it is running on Ethereum (ledger=115). Depending on the information provided by the issuer of the request, we could also see social media URLs, ITC classifications, and more.
The token economy has gained significant momentum. As of today, an ecosystem of more than 5,100 publicly traded crypto tokens and over 245,000 Ethereum tokens has emerged. However, due to the lack of holistic market standards, this wave of new tokens may confront market participants with ambiguity and uncertainty, exposing retail investors to avoidable risks and deterring institutional funds. Acknowledging the market‘s need for more standardization in order to grow and mature, ITSA has developed the International Token Identification Number (ITIN) as a unique identifier, which covers all Blockchain-based cryptographic tokens, regardless of their status as security, their fungibility or tradability.
In short: ITIN is a 9-digit technical identifier for both fungible and non-fungible DLT based cryptographic tokens. It is both unique and fork-resilient, and allows for the connecting and matching of other media and data to the token. Recently, there have been more and more calls for a unique identifier for tokens. Most notably, the ECB has specifically mentioned the ITIN in their recent paper on the use of DLT in post-trade processes.
The International Token Standardization Association (ITSA) e.V. is a not-for-profit association of German law that aims at promoting the development and implementation of comprehensive market standards for the identification, classification, and analysis of DLT- and blockchain-based cryptographic tokens. As an independent industry membership body, ITSA unites over 100 international associated founding members from various interest groups. In order to increase transparency and safety on global token markets, ITSA currently develops and implements the International Token Identification Number (ITIN) as a market standard for the identification of cryptographic tokens, the International Token Classification (ITC) as a standard framework for the classification of cryptographic tokens according to their inherent characteristics. ITSA then adds the identified and classified token to the world’s largest register for tokens in our Tokenbase.